Daily Market Highlights (04.06.10)

  • Slide in local equity market persists as the MSE Share Index closes in negative territory for the ninth successive session. Index shed a further 0.2% this morning to close at 3,449.320 points as declines in HSBC, IHI and GO offset marginal increases in the share prices of BOV and MIA. Index ends the week with a 1.4% drop mainly due to the declines in HSBC (3.3%), IHI (1.2%) and GO (3.4%). Download a copy of today’s Equity Market Summary.
  • Earlier this week both Simonds Farsons Cisk plc and Eden Finance plc closed their respective bond offerings due to oversubscription. The issuers will publish their respective allocation policies by next week.
  • HSBC’s share price continues to slip lower touching a fresh 2010 low of €2.90 before marginally recovering to the €2.93 level, 0.3% lower than yesterday’s price. 18,750 shares exchanged today with other offers in the market at the last traded price.
  • On the other hand further support for BOV shares helps the equity rise 0.5% to regain the €3.30 level. Only 2,500 shares trade today with further bids unsatisfied at the closing price whilst lowest offers still pitched at the €3.37 level.
  • GO also succumbs to intensified selling pressure. Share price slumps 2% to drop back to the €2.01 level on volumes of 3,400 shares. Few other bids outstanding at the closing price whilst lowest offers now pitched at the €2.03 level.
  • IHI also in negative territory today with the share price edging 0.2% lower to the €0.82 level on volumes of 15,000 shares. Another 5,000 shares remain on offer at the closing price with best bids now placed at €0.802.
  • MIA edges minimally higher to €1.58 following yesterday’s announcement of the May 2010 traffic results. The statistics show a 19.3% in passenger movements compared to May 2009. MIA explained that this increase was mainly due to the rise in seat capacity following the introduction of additional routes especially by Ryanair which now has an aircraft based in Malta. Despite the disruptions in European air space caused by the volcanic ash, the Malta airport still recorded a 7.7% increase in passenger movements during the first five months of the year compared to the respective period last year. 10,900 shares trade today with other bids remaining unsatisfied at the closing price whilst lowest offers now pitched at the €1.64 level.
  • Middlesea trades unchanged at the €0.86 level. Bids already placed 1.2% above the last traded price whilst lowest offers in the market at €0.88.
  • Trading session will not be held next Monday 7 June since it is a public holiday.

Comments are closed.